Viasat (NASDAQ:VSAT) SVP Craig Andrew Miller Sells 22,500 Shares of Company Stock

Key Points

• Viasat SVP Craig Miller sold 22,500 shares at an average price of $70.19, for about $1.58 million. The sale reduced his holdings by 35.12%, leaving him with 41,570 shares.
• Viasat shares fell 11.3% during Thursday trading to $59.24.
• Viasat reported quarterly EPS of -$0.32, beating analyst expectations of -$0.42. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $90.67.

Viasat Inc. (NASDAQ:VSAT - Get Free Report) SVP Craig Miller sold 22,500 shares of the business's stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $70.19, for a total value of $1,579,275.00. Following the completion of the transaction, the senior vice president owned 41,570 shares in the company, valued at approximately $2,917,798.30. This trade represents a 35.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Craig Andrew Miller also recently made the following trade(s):

• On Friday, October 9th, Craig Miller sold 11,893 shares of Viasat stock. The shares were sold at an average price of $71.61, for a total value of $851,657.73.

Viasat Stock Down 11.3%

NASDAQ VSAT traded down $7.55 during mid-day trading on Thursday, reaching $59.24. 4,283,471 shares of the company's stock traded hands, compared to its average volume of 2,092,010. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 1.23. Viasat Inc. has a 1-year low of $29.13 and a 1-year high of $93.03. The company has a fifty day simple moving average of $70.19 and a 200-day simple moving average of $64.08. The company has a market cap of $8.16 billion, a price-to-earnings ratio of -246.83 and a beta of 1.76.

Viasat (NASDAQ:VSAT - Get Free Report) last announced its earnings results on Thursday, November 5th. The communications equipment provider reported ($0.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.42) by $0.10. Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%. As a group, equities research analysts expect that Viasat Inc. will post -0.38 EPS for the current year.

Hedge Funds Weigh In On Viasat

Several institutional investors have recently made changes to their positions in VSAT. Valued Wealth Advisors LLC bought a new stake in shares of Viasat during the first quarter valued at about $25,000. Parallel Advisors LLC grew its position in Viasat by 169.3% in the 3rd quarter. Parallel Advisors LLC now owns 412 shares of the communications equipment provider's stock valued at $29,000 after buying an additional 259 shares in the last quarter. Aberdeen Wealth Management LLC bought a new position in Viasat in the 2nd quarter valued at about $30,000. Elevation Wealth Partners LLC increased its stake in Viasat by 935.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider's stock valued at $32,000 after buying an additional 318 shares during the period. Finally, Bullseye Investment Management LLC acquired a new position in Viasat during the 2nd quarter valued at about $37,000. 86.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on VSAT shares. Wall Street Zen lowered shares of Viasat from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Needham & Company LLC upped their target price on shares of Viasat from $90.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Viasat in a research note on Thursday, October 15th. Morgan Stanley set a $95.00 price objective on Viasat in a report on Monday, August 10th. Finally, Zacks Research upgraded Viasat from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $90.67.

About Viasat

Viasat, Inc is a communications technology company that provides satellite-based connectivity and related services to commercial, government and consumer customers. The company's offerings include high-speed broadband, satellite communications, network services and connectivity solutions designed for locations where terrestrial networks may be limited or unavailable.

Viasat serves the aviation, maritime, residential broadband, enterprise and government markets. Its services support in-flight internet for commercial and business aircraft, connectivity for ships and offshore operations, broadband access for homes and communities, and secure communications for government and defense customers.

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